VAIL, COLO. With a steep price tag and a still-healing left knee, Greg Oden is returning to the Trail Blazers ... for a year at least.

Oden on Thursday said he will end his free agent status today by signing a one-year deal with the Blazers that will pay him $8.9 million. The oft-injured center, who hasn't played in more than two years because of knee problems, said he will be patient in his return but also is determined to show the Blazers didn't waste the No. 1 overall pick in the 2007 draft.

"I want to get out there this year," Oden said.

But he made clear that he did not shun other free agent offers because he felt he owed something to the Blazers, who have paid him more than $19 million over the last four years to play 82 games.

"Before anything, I owe something to myself," Oden said Thursday. "I want to get out there, and I know I can do it. I want to show it, and I definitely want to show it in Portland, because I have been there and they have been with me from the start, So that's the number one thing, to go out there and show them what I can do.

"It's not what I owe ... I know I can do it. I just want them to see it, because they have been with me – at least the majority of the people."

Oden's decision Thursday came before he met with Dr. Richard Steadman in Vail, Colo., the noted knee specialist who performed microfracture surgery on Oden's left knee last November. After more than five hours of tests and examinations, Steadman cleared Oden to take part in limited practice activities when the Blazers open training camp today. Oden said he can shoot, run, pivot and cut, but cannot take part in full-contact drills or full-court play.

"I'm still a ways away from (no limits practice)," Oden said. "We want me to progress. We don't want to push me out there too soon and do anything too bad. Don't get me wrong. I want to get out on the court. It's been two years now. I want to compete. But I want to make sure I'm ready. We don't want anything else to go wrong."

There will be no timetable for Oden's return, and the team has said it will allow him to decide when he his ready to return to the court. The Blazers' 66-game schedule begins Dec. 26 against Philadelphia and ends April 26.

"I'm not putting any time tables, I've always said that. I want to be 100 percent when I get back out there," Oden said.

Oden stood to be a restricted free agent when the market opened Friday, which meant the Blazers could match any offer. But his two agents had long indicated he intended to stay in Portland, and Oden took himself off the market before another team had a chance to sign him to an offer sheet. Both Oden and agent Mike Conley Sr. said a multiyear contract was discussed, but Oden decided to go for the one-year deal.

"I like Portland. It's a good deal," Oden said. "I definitely want to take it."

It was a calculated gamble for both sides. By offering a one-year deal, the Blazers could lose Oden to free agency after this season. But at the same time, they limited their losses should Oden become injured again. For Oden, his signing with Portland ensured he would get the highest single-season payday available, while allowing him to become an unrestricted free agent next summer. But he also left himself at risk should he become injured again.

Agent Bill Duffy said Oden's heart was always with Portland.

"The mission has not been accomplished," Duffy said Thursday. "The Blazers have stood by Greg, and now he is going to stand by them."

The Trail Blazers said team president Larry Miller and interim general manager Chad Buchanan were unavailable for comment because of busy schedules.

If Oden can return healthy, he has shown he can be a force. At 7-feet and 270 pounds, he is one of the biggest players in the NBA. He also possesses quick feet, good hands and, before the injuries, unique agility. He was the Blazers most productive player two seasons ago when he fractured his left patella while leaping to block a shot in a Dec. 5 game against Houston.

But the questions around Oden have never been about his ability. It's why he was the No. 1 overall pick out of Ohio State, chosen ahead of now-superstar Kevin Durant. The questions have been about his durability, ever since he missed all of his first season because of microfracture surgery on his right knee.

Now he is recovering from microfracture on his left knee.

Oden said he has been running for the past three weeks, which comes after a summer of training in Los Angeles and at the St. Vincent Sports Performance Center in his hometown of Indianapolis. He has used the SVSP center since his college days, and most recently the week of Thanksgiving. He left those at SVSP impressed with his latest rehabilitation at the center, which includes both physical and psychological exercises.

"I'm biased, but Greg Oden at some point in time is going to be an extraordinary member of a basketball team," said Ralph Reiff, the executive director of SVSP. "When that is, Portland I'm sure would like to figure out. But I will say this: I think Greg is more focused and more mature – not that he was ever immature –but I feel really, really good about where Greg is at mentally, spiritually, emotionally and physically. I think Greg Oden has his act together."

The Blazers last week also remarked about Oden's positive frame of mind, but Oden wasn't quite sure what the fuss was about. Although he flashed easy smiles Thursday between the various stages of his exams, he said his mindset is nothing other than determination.

"I'm worried about this," he said, slapping his left knee. "I'm not worried about anything else. All I've been doing is rehab and working out. My mental state is getting my body 100 percent ready to play."